The Sennett - Next to Potong Pasir MRT, LH 99, Tuan Sing Holdings Limited

[DC33_2008]

Thinking of getting another one facing the open field (near cedar) which has been on sale for at least 6 months, if not for the CMs.

haha yes we are! yap fortunately am not along wan tho too

Have a good day dude!

[wira]

went by the showflat today ... 1 bedder is $1600 psf .. price is $9XX . is there a price increase as i thought PP is around $1400 psf ....

[RaZr]

went by the showflat today ... 1 bedder is $1600 psf .. price is $9XX . is there a price increase as i thought PP is around $1400 psf ....

$1450 for 2 bedder during opening of sales a couple of weeks back. Would have increased by now.

Price per square foot increases for smaller size units and decreases for bigger size units.

I think 1 bedder was around $1550 when I went couple of weeks back.

At this later stage, would advise u to check out bartley ridge which is near bartley mrt as it has cheaper units and it is not much further out from the city.

[ZeeWee]

$1450 for 2 bedder during opening of sales a couple of weeks back. Would have increased by now.

Price per square foot increases for smaller size units and decreases for bigger size units.

I think 1 bedder was around $1550 when I went couple of weeks back.

At this later stage, would advise u to check out bartley ridge which is near bartley mrt as it has cheaper units and it is not much further out from the city.

Ya quite true... or can even consider Jade Residences.. around same psf but Freehold

[Invest]

Thinking of getting another one facing the open field (near cedar) which has been on sale for at least 6 months, if not for the CMs.

Me too but if you really wanna invest cant really bother abt the CM.to me I dun really bother abt the CM cos it will come non-stop as proven.alot of billionaire dun bother and care abt the CM,we still buy as it is as though we can hold we still winner at the end of the day.I can only said the first timer will suffer unless they buying for own stay and dun bother and still able to hold even price if going down.as an investor,we can hold and what is CM.just take it as an charity,no choice.

[Rosy]

Me too but if you really wanna invest cant really bother abt the CM.to me I dun really bother abt the CM cos it will come non-stop as proven.alot of billionaire dun bother and care abt the CM,we still buy as it is as though we can hold we still winner at the end of the day.I can only said the first timer will suffer unless they buying for own stay and dun bother and still able to hold even price if going down.as an investor,we can hold and what is CM.just take it as an charity,no choice.

Why u say first timer will suffer unless for own stay? Own stay or investment will determine their holding power? In your opinion, prices are heading south? U actually suffer 10% more than 1st timers.

And at the end of the day, u gain 10% less than 1st timers.

[DC33_2008]

Good for you. One has to weight the potential upside and risk more carefully in the last one year b4 jumping in. Review the potential capital gain, rental yield, progressilve property tax and even personal income tax. Singapore is quite low in the two taxes and therefore still ok. I am sure they will push the tax bracket higher but the question is how much and when?

Me too but if you really wanna invest cant really bother abt the CM.to me I dun really bother abt the CM cos it will come non-stop as proven.alot of billionaire dun bother and care abt the CM,we still buy as it is as though we can hold we still winner at the end of the day.I can only said the first timer will suffer unless they buying for own stay and dun bother and still able to hold even price if going down.as an investor,we can hold and what is CM.just take it as an charity,no choice.

[Invest]

Why u say first timer will suffer unless for own stay? Own stay or investment will determine their holding power? In your opinion, prices are heading south? U actually suffer 10% more than 1st timers.

And at the end of the day, u gain 10% less than 1st timers.

i would said first timer if buying for investment and might not be able to hold long if in bad market situation as for regular investors still buying and able to pay CM without any pinch and lots of cash dun know what to do and already calculated well will never be an issue

[DC33_2008]

This is the head of the dragon head while Bartley Ridge is the tail. A lot more coming for this area. Congrats to all the buyers.

[Invest]

Why u say first timer will suffer unless for own stay? Own stay or investment will determine their holding power? In your opinion, prices are heading south? U actually suffer 10% more than 1st timers.

And at the end of the day, u gain 10% less than 1st timers.

I meant those first timer without very long term holding power and might not be able to hold if in down market esp if interest goes up and worse if their job is not secure as for regular investors those who now hold more than 5-10 condos now and already bought multiple units these few months and paying CM without any pinch and done their homework should not be an issue if still got lots of cash and dun know what to do with it.Cos now it should mostly buyer market for first timer or buyer with numerous properties those owning 5 and abv.

[DC33_2008]

This is the group with bullet proof vest and own the ammunition dump.

I meant those first timer without very long term holding power and might not be able to hold if in down market esp if interest goes up and worse if their job is not secure as for regular investors those who now hold more than 5-10 condos now and already bought multiple units these few months and paying CM without any pinch and done their homework should not be an issue if still got lots of cash and dun know what to do with it.

[Rosy]

We are seeing more who cash out too early probably in 2010-2012 and reinvest into smaller MM units to chase after yield. So called millions sitting in the bank and do not know what to do with it and FD only pay them 1%. I think they also believed that 10% absd spread across let say 10years only cost them 1% annually.

Absd is probably the smartest way to tax the rich while tapering the demand at the same time.

[Invest]

This is the group with bullet proof vest and own the ammunition dump.

Haha,what a description but sound great.

[kane]

There was a big crowd yesterday at the showroom listening to some feng shui master talk.

[Yuxiang]

There was a big crowd yesterday at the showroom listening to some feng shui master talk.

Isn't this project almost sold out already? Still got big crowd at showroom??

[RaZr]

Isn't this project almost sold out already? Still got big crowd at showroom??

Almost sold out. Majority of people in the showroom are agents.

[bakasa2002]

80% sold when I visited yesterday ...

[kane]

Isn't this project almost sold out already? Still got big crowd at showroom??

they had some fengshui master there giving some talk. the whole hall was packed.

[bakasa2002]

they had some fengshui master there giving some talk. the whole hall was packed.

Maybe it was a training session for agents on how to use FS to sell Sennett?

[Pro888]

80% sold when I visited yesterday ...

Best selling project in March.

[RCT]

I think D'Nest also did well

[Pro888]

I think D'Nest also did well

Yes. But bcoz Sennett quantum/$psf are much higher than D'Nest. To achieve 80% after CM7 within few weeks is remarkable.

[kane]

Maybe it was a training session for agents on how to use FS to sell Sennett?

whole bunch of dressed down folks sitting down. the agents were all in suits. not as many as those at Bartley Ridge, those were lining up the entrance!

i u turn straightaway after seeing the crowd and how full the carpark was. haha.

[DC33_2008]

NIN on the other side has put on their 100 % sold on the hoarding facing wan tho road.

Best selling project in March.

[kane]

NIN on the other side has put on their 100 % sold on the hoarding facing wan tho road.

And not too long ago I was wondering how nin was going to sell at those psf. Now they have 100% sold. Maybe it won't be long before people start taking a second look at sky habitat.

[DC33_2008]

Capland has to sell out DLeedon first.

And not too long ago I was wondering how nin was going to sell at those psf. Now they have 100% sold. Maybe it won't be long before people start taking a second look at sky habitat.

[kane]

Oh yah. That and interlace.

[DC33_2008]

Interlace is really like a puzzle when seen from the road with all the corners facing at different directions.

Oh yah. That and interlace.

[ecimbew]

I went to the show flat and ended up being wowed by the sheer generosity of the 2-bedder layout.

[ecimbew]

Agent told me the CDL project at the junction is 5-storeys. Don't believe her.

Found this report
http://www.mysingaporeliving.com/hea...ong-pasir-mrt/

Healthy demand for mixed-use site near Potong Pasir MRT
Source: The Straits Times – Friday, Sept 05, 2012

A tie-up between City Developments Ltd (CDL) and Hong Leong Holdings yesterday placed the top bid of $245 million or $793.02 per square foot per plot ratio (psf ppr) for a 99-year-leasehold mixed-use site near Potong Pasir MRT Station.
The bid exceeded market expectations and it was also about $24.4 million, or 11 per cent, higher than second highest offer of $714.10 psf ppr from Chip Eng Seng’s unit CEL Property
The state tender drew eight bids, which analysts say attests to the popularity of residential projects with a commercial component.
CDL said last night its proposed scheme is for a residential development of up to 19 storeys, with around 28 commercial units on the ground floor. Some of the commercial units could be released for sale.
The authorities have stipulated a maximum commercial quantum of 2,000 square metres (about 21,528 square feet) gross floor area (GFA) on the ground floor, which can be carved into no more than 28 units, translating to an average unit size of about 71.43 sq m (nearly 769 sq ft). Also stipulated is a maximum 267 residential units, reflecting an average unit size of 100 sq m. The caps on the number of residences and commercial units are to ensure that the traffic generated from the project can be supported by the area’s current road capacity.
Based on the CDL/Hong Leong’s top bid, DWG senior manager Lee Sze Teck estimates the breakeven cost at $1,250-$1,300 psf and selling price for the apartments at $1,450-
$1,500 psf. “The retail component could be sold on a strata basis for around $4,000-4,500 psf,” he added.
SLP International executive director Nicholas Mak too said the apartments could be launched at above $1,450 psf, which could set a new benchmark price for 99-year apartments in the vicinity. He said that recent average transacted prices of Nin Residence nearby (next to Potong Pasir Station) and Eight Riversuites (near Boon Keng Station) are $1,205 psf and $1,338 psf respectively.
Some market watchers consider CDL/Hong Leong’s top bid “bullish”. In July, property consultants predicted winning bids of $580-$750 psf ppr for the site.
Jones Lang LaSalle’s national director of Singapore research Ong Teck Hui said: “The top bid at $793 psf ppr is above expectations and reflects the keen demand for residential sites with commercial amenities. This has also been the case with mixed-use collective sale sites, some of which have also fetched higher-than-expected prices. Mixed-use projects have been doing well in their sales launches, achieving optimistic prices and rapid take-up. Recent examples include The Hillier, Watertown and Bedok Residences.”
Nevertheless, Mr Ong considers the top bid “optimistic”, especially considering some limiting sales conditions – such as the 2,000 sq m cap on commercial GFA, just 7 per cent of the project’s maximum GFA; and the 100-sq-m average residential unit size. “With limitations on the quantum of commercial space and the number of small residential units that can be carved out in this project, value enhancement by these would be constrained to some extent. Perhaps the value enhancement comes more from the premium that some home buyers would pay for a project with commercial amenities.”
CDL’s spokeswoman noted that “demand for homes near MRT stations, in particular those integrated with commercial/retail components, continues to be robust”.
“Given this, along with the ongoing transformation of the area around Potong Pasir MRT station into a private residential enclave, we expect this development to be highly sought after,” she said.
CDL and Hong Leong Holdings are familiar with the vicinity, being partners (in addition to TID) for the 702-unit Bartley Residences, she added.
At yesterday’s tender, a Frasers Centrepoint-Maxdin tie-up bid $706.01 psf ppr; Far East Organization’s Boo Han Holdings partnered Far East Orchard for a $656.35 psf ppr bid; Santarli Venture partnered SL (Serangoon) ($650.76 psf ppr). SL (Serangoon) is controlled by Douglas Ong Pang Chye.
Another bidder was Vantage Properties, owned by Lim Kim Hong and Lim Huixing ($624.06 psf ppr). Trident Assets, whose shareholders are Victor Soh’s Pinnacle Assets, architect Chee Hsian Sing and Melvin Poh, offered $588.45 psf ppr. The lowest bid of $558.93 psf ppr was from a partnership between Evia Real Estate (3) and Ho Lee Group.